JAKARTA – PT Bank of India Indonesia Tbk (BSWD) plans to issue 1.65 billion shares via a rights issue, which will take place within at least 12 months after gaining approval in the Extraordinary General Shareholders Meeting on March 16, 2022. Primasura Pandu Dwipanata, Director of Bank of India, confirmed this plan in the information disclosure quoted Tuesday (8/2).
It was mentioned that the proceeds of this corporate action would boost BSWD’s core capital to IDR 2.4 trillion. “The general estimation of utilisation of the raised funds during the corporate action is to be spent on strengthening the capital structure and expanding credits,” Dwipanata explained.
The shareholders who refuse to exercise their rights in this corporate action will have their portions diluted. The execution price and the target of proceeds have yet to be disclosed.
As of September 2021, the authorised capital of the Bank of India amounted to IDR 277.76 billion or 1,388,800,000 shares. Bank of India claimed 76% of them, followed by PT Panca Mantra Jaya of 18%, Prakash Rupchand Chugani of 1.71%, Deepak Rupo Chugani and Dilip Rupo Chugani of 0.50% each, and the public of 3.29%. (LK/ZH)